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Discussion Starter #1
For many years now I've had a CIBC premium credit card. The current iteration I use is called CIBC Dividend Visa Infinite Card. This card gives me several things I want:

- 4% cash back on groceries and gas. (which I don't buy a lot of, relatively speaking)
- 2% cash back on Tim's and Telus (which I don't use)
- 1% cash back on other purchases. (I do purchase a lot on Visa - we're retired, travel a fair bit and have a good retirement income.)

So, mostly at the end of the year I get back a little more than 1% of my purchases. The value of this card was much higher when I started with them many years ago - closer to 2%. The cards for my wife and me cost a bit more than $100/year, so by the end of the year I typically "net" $3-400 dollars since we purchase almost everything using these cards. This is almost half of what we got originally when the card was first introduced.

These cards also give additional protection like extending warranties by a year and insurance on rental cars, life, travel, etc.

I recently got a notice from Rogers (Yes, that Rogers) stating that they have a Platinum MasterCard with certain benefits.

- 1.75% "cash back" (for certain Rogers services, but that's fine since I pay Rogers more than $2k/year currently.)
- No exchange rate fees - saves 2.5% on foreign exchange typical of other cards.
- If I pay my Rogers bills with this card, there is no fee for the card.
- I don't think they provide extended warranty or "insurance" similar to my Visa, but I could always keep my Visa for those types of purchases.

I figure I could more than double my cash back, taking into account the 1.75% and the 2.5% on foreign purchases.

I would appreciate hearing from anyone who uses the new Rogers Platinum MasterCard, as well as people who have experience with other "cash back" cards that they feel might be better than my CIBC Visa. I do not wish to have a card that pays "Points" because I prefer "cash" and points values change all the time. I have utilized "points" in the past and they typically run around 1% when you "cash them" for various purchases like airfare, goods, vouchers, etc. which is less than I get now.

I don't wish to hear about Rogers and how people would never consider this because it's Rogers, but rather strictly from an economic standpoint. For example, even though I would not likely purchase a GM vehicle, I would certainly consider a "GM card" if I were considering such a purchase due to the high "cash back" rate.
 

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I have a Walmart MC card that gives me 1% cash available for Walmart purchases. No fees. Got something like $20 when joining. We buy some groceries and other stuff there and it's nice to buy $58 worth of goods and pay $58-50 credit. :)

I have an Amazon Visa card 1% back but applied to my Amazon account when it reaches $20 but it also gives me the no currency conversion charge(and it really does, recent conversion was 1.3146). Since I do a fair bit of US online stuff that is a fairly large benefit to me. I also got a $20 credit for joining.

Some special offers on other cards I have taken advantage of, have done a balance transfer for 1% fee and then no interest on the card balance for 12 months. We usually run a bit of a line of credit at a small int. rate, so transferring the balance to a 0% card for 12 months is a benefit as long as we don't wrack up more of a balance!!!
 

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I am a Costco member. I am considering their credit card which has these benefits:
Earn 3% cash back at restaurants, 2% on gas and up to 1% on all other purchases1


  • 3% on restaurant purchases
  • 2% on gas purchases
  • 0.5% on the first $3,000 you spend annually on all other purchases, and 1% after that
  • There's no limit on how much you can earn
  • Get your cash back in January as a rebate coupon you can use to shop at Costco3
I am not sure if you have to buy gas at Costco or good for any gas station.It also has price protection and extended warranty. It is a no fee card.
@57 I like the Rogers card feature on no exchange rate fee. But, I do spend a lot on restaurants when traveling. So this is a tough choice.
 

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I'm all about the Westjet World Elite M/C but I do travel quite a bit. Was rated as one of the best rewards cards last year I believe. Probably only for those who are in airports a lot
 

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Discussion Starter #5
Thanks for the feedback so far. I'm looking forward to others participating. I called Rogers Bank this morning with a couple of quick questions and learned that Rogers Bank cannot automatically withdraw the remaining balance each month from my financial institution (pre-authorized debit). My current Visa does this on the "due date", which is very useful since I travel a lot and don't wish to worry about making payments.

Rogers Bank stated that I could put them as a "payee" on my account, but the amount transferred would not be automatic and would need to be initiated by me every month. I'll have to check with my bank regarding details. I do online banking, so it should be relatively simple, it's just that I haven't done this before.
 

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I'll preface my response with the comment that we use our credit card less than most people. My mindset is that I spend less when using a debit card in comparison to a credit card, because I feel like it is real money that I spend when paying by cash or debit card.

We use the credit card when traveling or for dentist bills that will be quickly reimbursed by the insurance company, and a few other monthly bills like Rogers, Bell and State-Farm.


Until recently we were using our CIBC Dividend, but with the changes in the tiers for the cash-back rewards with CIBC we've changed over to the Chase Bank Amazon card. (We aren't actively trying to get the cash-back, but since it was being offered we took it, and since CIBC changed the tiers we looked at the alternatives.) The Chase Amazon VISA card offers 1% cash back which is automatically applied as credits to the statement when $20 (or multiples of $20) are reached.

I like the Amazon card online portal where I can see the transactions, as well as authorizations that have not yet been applied to the account. Chase Bank (Amazon VISA) has the ability to set up email alerts for card balances, statement dates, and payment due dates. There is no option that I'm aware of to have the balance automatically pulled from my chequing account. I very actively check the credit card every payday and make sure that it is paid in full.
 

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Rogers Bank stated that I could put them as a "payee" on my account
It's fairly easy to do. It basically consists of entering the card name and number. Scheduled payments can be set up for a fixed amount. That's not too useful for credit cards but might be handy for an extended trip if credit card charges are known in advance or can be easily managed. Rogers Bank has an smartphone app if you want to go that route.
 

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Discussion Starter #8
Rogers Bank has an smartphone app if you want to go that route.
I assume this app would also work on an iPad? I have never used an app like that, since everything has been "automatic" for me. In the app do I set up the financial institution and payment - this is the "reverse" of doing it via the financial institution?
 

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Doing it from the bank is the reverse. Find the company and enter your account number to create a payee and make payments from the financial institution. A list of payees is created and kept online for easier future payments. Payments with fixed amounts can be automated but bills that vary must be paid manually. I believe some bills can be sent directly to RBC but don't know how that works since I've never used it. I find that just about any payment can be done directly from RBC online. I can even send money directly to other people by just entering their email (similar to Paypal.)
 

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Get your cash back in January as a rebate coupon you can use to shop at Costco
A tip on the rebate credit.....one can go to the Customer service desk and ask for cash instead of using the rebate coupon at the till.

That way your till purchases can be paid for with the credit card thus accumulating further 1 % credits. The cash you get in-hand can be used for paying the credit card balance or for casual spending.
 

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My 2 cents ..if I may .. We use the Costco (Citibank- no fee) card as e268 does for most all purchases and get a cheque from them each January. We also have an Amazon Visa ( no fee) with no foreign exchange charge that we use in the US. That's like a 2.5 % "rebate" if we compare that to the other cards used down there.
We also use TD. I bank on line and when we travel, before we leave, I set up payments for bills that arrive by mail to be paid a bit before their due dates. I usually use last year's bills as a guide and add a few dollars so as to avoid late payment charges. I could check those bills on line while travelling and pay the exact amount but find setting up the payments in advance works well.
 

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@chazz
I just applied for the costco credit card. It says 2% cash back on gas purchases. Does it mean on all gas pumps or do I have to go to the costco gas pump? BTW, costco credit cards are now with Capital One Master Card.
 

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Does it mean on all gas pumps or do I have to go to the costco gas pump?
From Costco Capital One:
Earn cash back virtually everywhere – not just at Costco

Your card is accepted at over 35 million locations worldwide. Whether you're at the mall, the grocery store or on vacation, you'll earn cash back on every purchase you make.
•3% on restaurant purchases
•2% on gas purchases
•0.5% on the first $3,000 you spend annually on all other purchases, and 1% after that
•There's no limit on how much you can earn
•Get your cash back in January as a rebate coupon you can use to shop at Costco

So my understanding is all gas pumps, but can not personally confirm as I always tank up at Costco because their gas is generally 7-10 cents cheaper
 

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Hi e268 .. I've not used Costco gas yet so can't answer that ..talljak replied to that, thanks talljakfor the input/reply
 

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Discussion Starter #16
I started this thread back in April when I was considering a Rogers MasterCard. I got the card and have been using it for about 6 months. During this time I have received 5 credits towards my Rogers bills totalling over $400 (1.75% of all purchases). I have also saved hundreds of dollars in foreign exchange transaction fees since they were zero.

Starting this month Rogers is no longer waiving the 2.5% foreign transaction fee, but rather giving 4% rebates on all foreign transactions. This is not exactly as good as before, but almost equivalent (0.15% different). So, my foreign transaction rebates will be going up, but so will the amount I pay for foreign transactions.

On the whole, I'm a happy camper so far.

PS. As recommended by @ExDilbert, I can easily pay my balance each month online at TD.
 

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It's not a good deal if you have to return something -- you'll pay 5% in transactions fees, but get no rebate at all, since the return credit will subtract from your rebate balance.
 

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It's not a good deal if you have to return something -- you'll pay 5% in transactions fees, but get no rebate at all, since the return credit will subtract from your rebate balance.
It's that way with most credit cards. You purchase an item worth C$100 in a foreign currency, have to pay C$102.50 and only get C$97.50 back if you return the item, losing 5% as you say. The cash back on most credit cards would be zero, so there is nothing "worse" about Rogers MC as compared to other cards.

As with any card, you need to look at your lifestyle and the overall benefit. I would say that over $1000/year credits in my case is not bad. :rolleyes:
 

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Discussion Starter #20
5% transaction fee!!! That is Robbers.
That's only if you return the item. If you keep the item (as most people do with most transactions), the transaction fee is 2.5%, but you get 4% "cash back" credit towards anything at Rogers. This is better than most cards that I have looked into.
 
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